Character Office Building with Historic
For Sale
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1641 West Broad St, Richmond, VA 23220
Distinctive historic-office building with large windows and flexible space for owner-occupants and professional tenants.
Property Size4,871 SF
Price / SF$153.97
Days on Market145
Property Features for 1641 West Broad St
General Information
Standard status
Active
Size
4,871 SF
Property subtype
Office
Zoning
B-6
Investment Type
Owner/User
Site & Location
Neighborhood
Ntw
Highway Access
Yes
Building Details
Year Built
1925
Year Renovated
1975
Buildings
1
Listing Agency:
One South Commercial
Listed By:
Lory Markham · License #VA 0225227308
(804) 248-2561
Source:
Crexi
Added: Jun 1
Changed: Oct 6
Last Checked: Oct 23 at 4:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of One South Commercial
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Investment Insights
Based on property information with market context.
1641 W Broad Street is a character-rich office building offering approximately 4,871 square feet of office space plus a partial basement. The property was renovated in 1975 by structural engineer William J. Davis, blending classic historic detailing with retro-influenced interior character. Inside, large windows and distinctive interior finishes help create an inviting workplace environment for both employees and visiting clients, with a layout described as flexible and well-suited to a range of office users.
The building is positioned along West Broad Street in Richmond and is presented as benefiting from strong connectivity and visibility within a dynamic growth corridor. The remarks state that the property provides immediate access to Downtown Richmond, Scott’s Addition, VCU, and Interstate 95/64.
This is a practical fit for an owner-occupant seeking long-term operational control in an architecturally distinctive setting, as well as for organizations that want professional space with authentic architectural personality. The flexible layout and windowed interior configuration support a variety of uses including creative firms, design studios, nonprofits, and boutique headquarters, depending on the tenant’s space planning needs.
The building is positioned along West Broad Street in Richmond and is presented as benefiting from strong connectivity and visibility within a dynamic growth corridor. The remarks state that the property provides immediate access to Downtown Richmond, Scott’s Addition, VCU, and Interstate 95/64.
This is a practical fit for an owner-occupant seeking long-term operational control in an architecturally distinctive setting, as well as for organizations that want professional space with authentic architectural personality. The flexible layout and windowed interior configuration support a variety of uses including creative firms, design studios, nonprofits, and boutique headquarters, depending on the tenant’s space planning needs.
Key Highlights
- Historic office building built in 1925 with approximately 4,871 SF of office space plus a partial basement
- Renovated in 1975 by structural engineer William J. Davis
- Office layout described as flexible and suited for creative firms, professional offices, nonprofits, design studios, or boutique headquarters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,490
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,309,800
$1.3M
Cap Rate 7%
$935,571
$935.6K
Cap Rate 9%
$727,667
$727.7K
Market Conditions
NOI Build-Up for 4,871 SF
Gross rent
$103.5K $21.24/SF
− Vacancy
−$16.1K −$3.31/SF
EGI
$87.3K $17.93/SF
− OpEx
−$21.8K −$4.48/SF
NOI
$65.5K $13.44/SF
Area
Richmond, VA
Vacancy
15.60%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,309,800
Cap Rate 7%
$935,571
Cap Rate 9%
$727,667
Alternative Uses
Best Use
Office B
$935.6K
$818.6K – $1.09M
NOI $65,490 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,776 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,978
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
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Market
Vacancy Rate% for Office in Richmond, VA
Frequently Asked Questions
What type of property is this?
Office building - Distinctive historic-office building with large windows and flexible space for owner-occupants and professional tenants.
Where is this office building located?
The property is located at 1641 West Broad St Richmond, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Historic office building built in 1925 with approximately 4,871 SF of office space plus a partial basement; Renovated in 1975 by structural engineer William J. Davis; Office layout described as flexible and suited for creative firms, professional offices, nonprofits, design studios, or boutique headquarters
